Cuttack: Dismissing a plea for quashing of proceedings in an alleged kickback case, the Orissa High Court said that economic offences pose a significant danger to a country’s economy at large and a threat to the law of the land.
A single-judge bench of Justice SK Panigrahi made these observations while refusing to interfere in the proceedings pending against former Banki MLA Pravat Tripathy’ before the Court of Special Chief Judicial Magistrate (CBI), Bhubaneswar.
Tripathy had claimed he had been falsely implicated for allegedly having received a Rs 42 lakh kickback from the chief of AT Group Pradeep Sethy, the main accused as quid pro quo for aiding him to run his illegal business/operations.
Justice Panigrahi said the case related to the commission of an economic offence and the involvement of the present petitioner had a humongous effect on the prospective investors and their temptation to invest in such lucrative schemes.
“The entirety of circumstances showcase that the petitioner was prima facie aware of the nature of the business of the principal accused (Sethy) and knowing the background fully well he consciously chose to bless the principal accused with his patronage in exchange for monetary benefits,” he said.
The court further said that the crime committed by the petitioner and other co-accused is not a crime against any individual but a crime against the public as innocent depositors lost their hard-earned life savings by investing in AT Group.
“Consequently, it becomes imperative that the matter be subjected to the rigour of thorough trial in respect of the alleged offences to meet the ends of justice. Without a trial, it is not possible to fathom or proper to hold whether or not the allegations made against the petitioner are made out or not,” he added.
The court has been scathing in its attack on economic offences. Recently HC Justice SK Sahoo had observed that economic offences, involving the exploitation of depositors and of them being robbed of their dreams to own houses, were worse than murders.
